Pakistan, Saudi Arabia agree to promote trade, investment; encourage private sector

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Pakistan and Saudi Arabia have agreed to promote bilateral trade, investment and contacts between the two peoples and businessmen, besides encouraging the private sector to take lead in building a strong economic partnership. According to a joint statement issued by the Foreign Office on the conclusion of two-day state visit of Saudi Crown Prince, Deputy Prime Minister and Minister of Defence Mohammed bin Salman bin Abdulaziz Al Saud, the two countries agreed to further strengthen measures to promote trade, participate in exhibitions and events, and welcome business meetings from both countries.


The Joint Commission on Commerce and Trade, which is now part of the Saudi-Pakistan Supreme Coordination Council, shall facilitate bilateral trade in specific sectors and products.


The Crown Prince visited Pakistan from February 17 to 18 at the invitation of Prime Minister Imran Khan along with a high-level delegation of ministers and businessmen.


The two sides reaffirmed the historical relations between Pakistan and Saudi Arabia.


The Prime Minister praised the leadership of Saudi King Salman bin Abdulaziz Al-Saud, and the efforts of his government, specially its services to the millions of pilgrims who visit the Two Holy Mosques every year.

He also lauded the Crown Prince for the development and investment files that would push the Kingdom of Saudi Arabia in a rapid progress and prosperity in view of its Vision 2030.


The Crown Prince praised Prime Minister Imran Khan’s agenda of transforming Pakistan into a welfare state, based on Islamic socio-economic principles and assured him of the Kingdom’s continued support. During the high-level discussions, the two sides applauded the growing momentum in their bilateral relations in all areas of cooperation.


The Pakistani side appreciated Saudi Arabia’s positive role in resolving the issues facing the Islamic Ummah. The Saudi side lauded Pakistan’s important positions in the Islamic world and its efforts for regional peace and security.


Both the countries reiterated their commitment to continue combating extremism and terrorism, and appreciated the achievements and sacrifices by the two sides in the war against terrorism. Applauding the martyrs in anti-terror war, they called on the international community to shoulder its responsibilities to join all international efforts to combat global terrorism. They also underlined the need for avoiding politicization of UN listing regime.


The two sides expressed their hope for achieving a fair, comprehensive and long-lasting peace in the Middle East in accordance with the Arab Peace Initiative and the resolutions of international legitimacy guaranteeing the legitimate rights of the Palestinian people, including the establishment of an independent and viable Palestinian state.


During the official talks, the Crown Prince praised openness and efforts of Prime Minister Imran Khan for dialogue with India and the opening of the Kartarpur crossing point and the efforts exerted by both sides. He stressed that dialogue was the only way to ensure peace and stability in the region to resolve outstanding issues.


Pakistan and Saudi Arabia agreed on the importance of political settlement, and promoting peace and stability in Afghanistan so that millions of Afghan refugees in neighboring countries could return to their country and contribute to their development and lasting peace.


The Saudi side appreciated Pakistan’s generous hosting of millions of Afghan refugees and its other initiatives in the Afghan context.


The two countries decided to establish a Joint Supreme Coordination Council co-chaired by the Saudi Crown Prince and Pakistan’s Prime Minister for enhancing and institutionalizing the bilateral relations in various fields.


Highlighting the growing economic relations, the Crown Prince and the Prime Minister witnessed the signing of a number of agreements and memorandums of understanding. The total investment opportunities resulted in over 20 billion dollars, which would increase the mutual investment and volume of trade between the two brotherly countries.


The Saudi side appreciated the initiatives taken by the Government of Pakistan to facilitate the conduct of business in the country and facilitate foreign direct investment in Pakistan. The Prime Minister called on Saudi Arabia to be a partner in economic growth and development in Pakistan.


The Saudi Crown Prince also praised the efforts of Prime Minister Imran Khan to develop the economic and social structure in Pakistan and stressed the potential of the China Pakistan Economic Corridor (CPEC), which would contribute to the development and prosperity of the region.


The two countries called to promote dialogue, respect and understanding among followers of different faiths to promote peace and interfaith harmony.

They strongly condemned the atrocities and human rights violations committed against Muslims around the world.


At the end of the visit, the Crown Prince thanked the Prime Minister for his warm hospitality. For his part, the Prime Minister expressed his best wishes to the health and wellness of the Custodian of the Two Holy Mosques King Salman bin Abdul Aziz, and hoped he would visit Pakistan in the near future.



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